How Much Can an Employer Contribute to an HSA in 2019?

If you're considering enrolling in a Health Savings Account (HSA) or already have one, you may wonder how much your employer can contribute to it in 2019. An HSA is a tax-advantaged savings account available to individuals covered by high-deductible health plans (HDHPs) to help cover medical expenses. Here's what you need to know about employer contributions to HSAs:

1. For 2019, the maximum contribution an employer can make to an employee's HSA is:

• $3,500 for individuals with self-only coverage
• $7,000 for individuals with family coverage

2. These limits include both employer and employee contributions. If you are 55 or older, you can make an additional 'catch-up' contribution of $1,000.

3. Employer contributions to your HSA are tax-deductible for your employer and are not included in your gross income. This means you won't pay federal income tax on these contributions.

4. It's essential to check with your employer about their HSA contribution policy to ensure you maximize your HSA benefits.

Employers play a significant role in helping employees save for healthcare costs by contributing to their HSAs. Understanding the contribution limits can help you make the most of this valuable benefit.

If you're thinking about enrolling in a Health Savings Account (HSA) or you already have one, understanding the financial aspects is crucial. For 2019, employers can contribute significantly to your HSA, helping you cover out-of-pocket medical expenses. In fact, they can contribute up to $3,500 for individuals with self-only coverage and $7,000 for those with family coverage.